Blockchain Enabled Trustless API Marketplace

The API marketplace ecosystem generally consists of three stakeholders: a centralized cloud vendor, API providers, and API consumers.

Being part of a marketplace helps individual and small scale API providers to increase the accessibility and exposure of their APIs to a larger customer base and avoid challenges pertaining to building and hosting API portals.

A developer generally lacks the infrastructure to host and serve APIs at scale, and therefore chooses a cloud vendor who hosts a centralized API marketplace, and deploys the API on the cloud.

API Marketplace Ecosystem with three stakeholders: A centralized cloud vendor, API providers, and API consumers.

Moreover the cloud vendor can invoke the API multiple times without actually reporting it to the provider or report inaccurate API usage metrics to increase its own share of the API revenue.

A malicious API provider may repudiate the query results of a certain version of the deployed API or provide a wrong API to begin with and repudiate that the output has been generated by his API. The API provider may also blame the cloud vendor for not executing an accurate version of his API. A malicious API consumer may demand refund by claiming that a wrong output was provided by the API service by possibly forging its output.

All transactions related to the storage of models components across cloud vendors, invocation of API request by API consumers, execution of specific model components held by individual cloud vendors, and receipt of the final output by API consumers are stored on the Blockchain.

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